TEMPO.CO, Jakarta - The Jakarta administration and the Jakarta Legislative Council had finally approve the 2017 Jakarta Budget with a total value of Rp 70.19 trillion (US$5.3 billion).

In a plenary meeting held on Monday, December 19, 2016, Jakarta Legislative Council's budgetary board deputy chairman Triwisaksana said that the figure was lower than that previously discussed at Rp 70.28 trillion (US$5.4 billion).

"The amendment was discussed transparently," Triwisaksana said in Jakarta on Monday, December 19, 2016.

Triwisaksana explained that the change in the budget value was caused by an increase in the profit sharing fund from the central government from Rp 15.02 billion (US$1.1 million) to Rp 105 billion (US$8 million).

Rents from low-cost apartment also increased by Rp 27.8 billion (US$2.1 million). In terms of spending, the fund for mass rapid transit dropped by Rp 230 billion (US$17.7 million).

Triwisaksana called on the Jakarta administration to be cautious in spending the budget, particularly for land acquisitions. The Jakarta administration is required to consult with the National Land Agency for purchases of lands above five hectares.

Acting Jakarta Governor Sumarsono said that the Jakarta Budget would be submitted to the Home Affairs Ministry for an evaluation. Sumarsono revealed that the budget can be spent in the first week of January next year. The largest portion of the budget is aimed at developing low-cost apartments.

Sumarsono revealed that the Jakarta Housing and Government Buildings Agency had received about Rp 5 trillion (US$384.6 million) to build 11,105 units of low-cost apartments. Sumarsono expressed optimism that the budget absorption would reach 90 percent next year, since several projects had been commenced since the budget threshold was approved in November 2016.

LINDA HAIRANI | REZA SYAHPUTRA